Rebound supports this dividend

Article Excerpt

T. ROWE PRICE GROUP INC. $121 is a buy. The company (Nasdaq symbol TROW; High-Growth Dividend Payer Portfolio, Finance sector; Shares outstanding: 227.5 million; Market cap: $27.5 billion; Divd yield: 3.0%; Dividend Sustainability Rating: Highest; www.troweprice.com) is a leading seller of mutual funds and wealth management services. With the March 2020 payment, T. Rowe Price raised its quarterly dividend by 18.4%. The new annual rate of $3.60 a share yields 3.0%. The company’s fee income rises with the value of the mutual funds and other securities it manages. T. Rowe Price had $1.19 trillion in assets under administration as of May 31, 2020. That’s down 1.7% since the start of the year. Still, it’s also up a solid 5.4% from $1.125 trillion a month earlier. That reflects the stock market rebound from its March lows. T. Rowe Price is a buy. buy…

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